Time-cost trade-off problems: Models and methods

A Time-Cost Trade-Off Problem (TCTP) aims to optimize the objective function of the problem at hand, ensuring that the project duration or budget constraint is not exceeded. Generally, TCTPs can be divided into two types: deadline problems and budget problems. In a deadline problem, the task durations must be set in such a way that the project is completed by the project deadline, while minimizing the costs resulting from project execution. In a budget problem, the goal is to minimize the project duration, while ensuring that the resulting costs do not exceed the limited budget. This paper deals with models and methods for Time-Cost Trade-Off problems, aiming to establish a foundation for project planning to enhance the understanding of a planning problem.